Change Bank Account for KWRI Draft – KWMCAngel

When your Market Center changes bank accounts and the new account will be used for the monthly KWRI draft, you must notify KWRI of the bank information change by filling out an MC Automatic Withdrawal Form and sending it to KWRI by either e-fax or a phone call.

To access the form:

Login to KWConnect
Under Resources, Click Leadership Hub
Scroll down until you see a section titled "More Popular Resources on Connect" and click MCA Resources
Click on Market Center Operations
Find the Market Center ACH Debit Form (Left Column under Resources).

This form must be sent via e-fax (512) 597-9376 attention Accounting or called in to Rebecca Baker at (512) 439-8602. This form must be received by KWRI prior to transmittal in order for the current month’s royalty and fee withdrawal to be drafted from the new bank account.

Next Steps:

KWRI does not recommend co-mingling two account activities into one account in your accounting software. Below is the best practice for changing bank accounts in your accounting software:

Open the existing account (1-0100 for example) in the Account List and change it to 1-0101.
Create a new bank account 1-0100 with the new bank name.
1. This process keeps all historical activity in the appropriate accounts. Changing the new account to 1-010 or 1-0200, etc., keeps it in the primary account for all of our directional purposes.
Any time a bank account is changed, after setup changes are complete, look at Setup, then Linked Accounts to be sure that any linked cash accounts are still correct.

To change the bank account for the following charges, please contact those departments directly:

KPA - kpa@kw.com
KSCORE - realestateschool@kw.com
MAPS Coaching - maps@kw.com

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